But afraid of what? Erhc has come a long way and will NEVER go back to 10 cents again.
1) FBI docs returned.
2) No threat of not drilling the holes on time as stipulated by the JDA contract.
3) Holes have been drilled.
4) Partner with Addax/Sinopec secured.
5) ROO issues resolved.
Those were the major things. Add to that the new BOD, which all but eliminates any illegitimacy of the company. The EEZ awards. And so on and so on. Plus Total's interest in the JDZ. Sure, Chevron is leaving, but you know what, I bet they're kind of sick of Nigeria and sick of MEND (not that MEND is an issue in the JDZ, it's not).
Everything has changed in the course of 18 months. So what gives? What in the world could be the downside that has the fraidy cats scared? That there's no commercial oil/natural gas? Is that it? Commercial makes this thing $2 or more, so are you saying that the market seriously thinks we don't have commercial in order to price this thing appropriately?
Are the fraidy cats afraid that results won't be released for 6 months, and hence their money must be dead? Look, if a buy out occurs, it DOES NOT MATTER WHAT THE RESULTS ARE, not one iota.
There's nothing shareholders here can do to stop a buy out; you have to just accept it at whatever price is agreed upon, even if they find billions of barrels or no barrels. And that means that money is not dead while we wait for results...because we are waiting for two things results or a buy out, whichever comes first and no one can says there will be no buyout for six months.
Krombacher
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